EUR/GBP Technical Analysis: Seems poised to reclaim 0.90 handle ahead of UK macro data
• The cross built on Friday's bullish breakthrough the 0.8925-30 heavy supply zone and jumped to 2-1/2 month tops on the first trading day of a new week.
• Technical indicators on the daily chart maintain their bullish bias and support prospects for additional gains towards reclaiming the key 0.90 psychological mark.
• However, oscillators on hourly charts are already pointing to slightly overbought conditions and thus, warrant some caution ahead of today's UK macro data.
• Nevertheless, the set-up clearly points to an extension of the near-term positive momentum and dip-buying interest should limit any meaningful retracement.
EUR/GBP daily chart
Today Last Price: 0.8979
Today Daily change: 24 pips
Today Daily change %: 0.268%
Today Daily Open: 0.8955
Previous Daily SMA20: 0.8865
Previous Daily SMA50: 0.883
Previous Daily SMA100: 0.8887
Previous Daily SMA200: 0.8839
Previous Daily High: 0.897
Previous Daily Low: 0.8888
Previous Weekly High: 0.897
Previous Weekly Low: 0.8863
Previous Monthly High: 0.8932
Previous Monthly Low: 0.8656
Previous Daily Fibonacci 38.2%: 0.8939
Previous Daily Fibonacci 61.8%: 0.892
Previous Daily Pivot Point S1: 0.8906
Previous Daily Pivot Point S2: 0.8856
Previous Daily Pivot Point S3: 0.8823
Previous Daily Pivot Point R1: 0.8988
Previous Daily Pivot Point R2: 0.902
Previous Daily Pivot Point R3: 0.907